The study looked at how the Chinese stock market affects other world markets. During the subprime mortgage crisis, the US market had the biggest impact on other markets. The Chinese market's volatility has been influencing other markets since 2005. Markets in China, Hong Kong, and Taiwan had more significant interactions than with Western or other Asian markets. A major correction in the Chinese stock market in 2007 caused volatility in other markets. Despite restrictions on foreign investment, the Chinese market was not greatly affected by the subprime mortgage crisis.